Thursday, March 25, 2004

€31 million private equity financing for 14 companies
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Created by: Tornado Staff

Spring sunshine is warming up Spanish investors with funding having already reached €10.3 million in 2004. This is the largest amount registered by Tornado-Insider in the past eight consecutive quarters. One must look as far back as Q4 in 2001 to find a higher amount of funding for Spanish firms, when €11.4 million was raised. Investments to date in 2004 have already reached more than 57 percent of the total amount invested in the whole of 2003 (€18.2 million).

In March 2004 alone, six Spanish companies have received venture capital, of which three firms secured their first round of financing: Boreal Media, a startup specializing in advertising communications that provides various services from consulting advice through training to specific technical developments (€150,000); Kalysis, which provides various services that address the needs of secure Internet payment using smart cards (€150,000); and AnaFocus, a designer of analogue and mixed-signal integrated circuits (€300,000).

Italy is the only other country in Southern Europe that has received VC investment so far in 2004 – a €12 million first round for optics and photonics company Media Lario. Italian firms raised a total of €24 million in 2003.

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